September S&P 500 E-Mini futures (ESU24) are trending up +0.45% this morning as the prospect of lower interest rates and a slew of upbeat earnings reports boosted sentiment, while investors geared up for the release of the Fed’s first-line inflation gauge.
In yesterday’s trading session, Wall Street’s major indexes closed mixed, with the blue-chip Dow posting a new record high. Best Buy (BBY) surged over +14% and was the top percentage gainer on the S&P 500 after the consumer electronics retailer posted upbeat Q2 results and lifted its full-year adjusted EPS guidance. Also, Crowdstrike Holdings (CRWD) gained nearly +3% after the cybersecurity company reported better-than-expected Q2 revenue. In addition, Affirm Holdings (AFRM) soared over +31% after reporting stronger-than-expected Q4 results and providing above-consensus Q1 revenue guidance. On the bearish side, Dollar General (DG) plummeted more than -32% and was the top percentage loser on the S&P 500 after the discount retailer posted downbeat Q2 results and cut its FY24 same-store sales growth guidance. Also, Nvidia (NVDA) slumped more than -6% after the chipmaker’s Q3 revenue forecast fell short of the highest expectations.
